Silver coins/rounds question

[rondog]

Hey guys, as a newbie precious metals investor, why is the premium % much higher for Silver than Gold? For example, I can buy 1 oz gold Krugerrands for about a 4% premium (2013 American Eagles for about a 5% premium), but the "Don't tread on me" 1 Oz silver rounds from Provident for about an 11.7% premium. Is this just higher demand for silver than for gold?

This is only my opinion, but you're paying a lot for "collector value" on stuff like that. I believe plain old nothing special rounds and bars will be cheaper, as long as they say ".999 fine silver" on them somewhere. And I've always dealt with small local coin shops, never any "supershops", pawn shops, or online dealers. Low overhead means lower prices, and no shipping costs.

I'd much rather have a 1 oz bar of plain silver for a cheaper price than a 1oz showpiece silver round that cost a lot more. I would also watch the spot price and buy on price dips if possible.

[electronman1729]

I got scammed this week and ended up with ".999 fine german silver"

be careful

[HoneyBadger]

I got scammed this week and ended up with ".999 fine german silver"

be careful

What's the difference? how did you get scammed?

[BigNick73]

What's the difference? how did you get scammed?

There's no silver in it. AKA Nickle Silver. You usually see it on ebay with the german part in fine print.

[electronman1729]

There's no silver in it. AKA Nickle Silver. You usually see it on ebay with the german part in fine print.

yep

Thats how i got scammed. Now i will only buy my silver at the tanner. I bought some at the last tanner and the deal went great.

In my Opinion the best way to buy silver is at the tanner gun show from people that dont have a shop so their overhead is really low and thus spot can be a little lower as well

[rondog]

I don't think I'd buy silver at a gun show, that sounds like a good way to get fucked over too. People melt old silver coins and sell them as bullion bars ya know, but that's only 90% silver. And pawn shop.....NFW. I usually go to Dave's Gold and Silver Exchange on Broadway, he's a good guy. Any coin shop will do, but that big place on Broadway, Rocky Mountain Coins, they don't impress me too much. They're too big and it looks like they have high overhead to maintain.

[roberth]

I prefer to buy silver at Tanner. I can see exactly what I'm getting, if I don't like the price from one vendor I can walk a couple of rows and see another vendor.

[brokenscout]

Silver & Gold will be useless , buy Ammunition and Firearms.

[Teufelhund]

Spot price of silver has been trending down lately, and it dropped quite a bit on Friday. Under $22 right now. Good time to buy, unless you want to wait and see if it trends down some more.

I've bought a bit of bullion from Westminster Mint. If you pay by check, they wait 10 days after the check clears before they ship your purchase, so it takes almost a month to get your coins from the time you make the purchase. The shipping was very quick though (2 day), comes through USPS and requires a signature. I've been very happy with the silver I've gotten from them.

[Richard K]

Well, I listened to all the financial analyists who predicted the price of silver was going to double or triple. I pulled money out of my retirement accounts and bought 1,000 2012 Silver Eagles @ $40.25 each. Immediately thereafter the price of silver started dropping and is now just slightly over $22! If it weren't for bad luck I'd have no luck at all!